Canaccord Genuity Group Reaffirms Buy Rating for ASP Isotopes (NASDAQ:ASPI)

Canaccord Genuity Group reaffirmed their buy rating on shares of ASP Isotopes (NASDAQ:ASPI - Free Report) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $4.50 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group initiated coverage on ASP Isotopes in a report on Friday, October 4th. They set a "buy" rating and a $4.50 price target for the company. HC Wainwright reduced their price objective on ASP Isotopes from $5.50 to $4.50 and set a "buy" rating for the company in a report on Wednesday, August 7th.

ASP Isotopes Stock Performance

ASP Isotopes stock traded up $0.24 during midday trading on Friday, reaching $4.28. 4,325,312 shares of the company's stock were exchanged, compared to its average volume of 864,277. ASP Isotopes has a 52 week low of $0.98 and a 52 week high of $5.67. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.00 and a current ratio of 4.00. The firm has a market cap of $221.55 million, a price-to-earnings ratio of -8.57 and a beta of 5.11. The stock's 50-day simple moving average is $2.62 and its 200 day simple moving average is $3.24.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.24) EPS for the quarter. The company had revenue of $1.02 million during the quarter. On average, analysts expect that ASP Isotopes will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Fielder Capital Group LLC bought a new stake in shares of ASP Isotopes in the second quarter worth $55,000. Rhumbline Advisers bought a new stake in ASP Isotopes during the second quarter valued at $116,000. HTLF Bank boosted its position in ASP Isotopes by 197.0% during the second quarter. HTLF Bank now owns 105,538 shares of the company's stock valued at $323,000 after acquiring an additional 70,000 shares during the last quarter. Virtu Financial LLC boosted its position in ASP Isotopes by 477.0% during the first quarter. Virtu Financial LLC now owns 83,677 shares of the company's stock valued at $346,000 after acquiring an additional 69,176 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in ASP Isotopes during the second quarter valued at $381,000. 16.80% of the stock is currently owned by institutional investors and hedge funds.

About ASP Isotopes

ASP Isotopes Inc, a development stage advanced materials company, focuses on the production, distribution, marketing, and sale of isotopes. It engages in the production and commercialization of Molybdenum-100, a non-radioactive isotope for the medical industry; Carbon-14; and Silicon-28. The company is also developing Quantum Enrichment technology to produce Ytterbium-176, Nickel-64, Lithium 6, Lithium7, and Uranium-235.